31 December 2010
in case of sale of goods the revenue is recognised when properity in the goods is transfered to buyer in case of export sales it shall be the time Bill of lending.
03 January 2011
Free on Board - revenue recognized as soon as the goods leave factory gate (i mean handed over to the courier of transporter of cutomer)
CIF (Custom, Insurance Freight) - revenue recognized at the time of devlivery of goods at the factory gate or at the port (export) etc.
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